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Side-by-side financial comparison of CLOVER HEALTH INVESTMENTS, CORP. (CLOV) and Global Business Travel Group, Inc. (GBTG). Click either name above to swap in a different company.
Global Business Travel Group, Inc. is the larger business by last-quarter revenue ($792.0M vs $487.7M, roughly 1.6× CLOVER HEALTH INVESTMENTS, CORP.). Global Business Travel Group, Inc. runs the higher net margin — 10.5% vs -10.1%, a 20.6% gap on every dollar of revenue. On growth, CLOVER HEALTH INVESTMENTS, CORP. posted the faster year-over-year revenue change (44.7% vs 34.0%). Global Business Travel Group, Inc. produced more free cash flow last quarter ($13.0M vs $-69.0M). Over the past eight quarters, CLOVER HEALTH INVESTMENTS, CORP.'s revenue compounded faster (18.6% CAGR vs 13.9%).
Clover Health Investments, Corp. is an American health care company founded in 2014. The company provides Medicare Advantage (MA) insurance plans and operates as a direct contracting entity with the U.S. government. The company manages care for Medicare beneficiaries in 11 states and started trading publicly on January 8, 2021.
A travel management company (TMC) is a travel agency which manages organizations' corporate or business travel programs. Such companies will often provide an end-user online booking tool, mobile application, program management, and consulting teams, executive travel services, meetings and events support, reporting functionality, duty of care, and more. Non-Profit travel management companies also provide services to manage complex visa requirements, pre-trip medical needs, remote area travel, ...
CLOV vs GBTG — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $487.7M | $792.0M |
| Net Profit | $-49.3M | $83.0M |
| Gross Margin | — | — |
| Operating Margin | -10.1% | 3.7% |
| Net Margin | -10.1% | 10.5% |
| Revenue YoY | 44.7% | 34.0% |
| Net Profit YoY | -123.2% | 692.9% |
| EPS (diluted) | — | $0.16 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $487.7M | $792.0M | ||
| Q3 25 | $496.6M | $674.0M | ||
| Q2 25 | $477.6M | $631.0M | ||
| Q1 25 | $462.3M | $621.0M | ||
| Q4 24 | $337.0M | $591.0M | ||
| Q3 24 | $331.0M | $597.0M | ||
| Q2 24 | $356.3M | $625.0M | ||
| Q1 24 | $346.9M | $610.0M |
| Q4 25 | $-49.3M | $83.0M | ||
| Q3 25 | $-24.4M | $-62.0M | ||
| Q2 25 | $-10.6M | $15.0M | ||
| Q1 25 | $-1.3M | $75.0M | ||
| Q4 24 | $-22.1M | $-14.0M | ||
| Q3 24 | $-9.2M | $-128.0M | ||
| Q2 24 | $7.4M | $27.0M | ||
| Q1 24 | $-19.2M | $-19.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 24.5% | — | ||
| Q2 24 | 30.3% | — | ||
| Q1 24 | 23.6% | — |
| Q4 25 | -10.1% | 3.7% | ||
| Q3 25 | -4.9% | 1.8% | ||
| Q2 25 | -2.2% | 5.4% | ||
| Q1 25 | -0.3% | 8.9% | ||
| Q4 24 | -6.4% | 5.1% | ||
| Q3 24 | -2.7% | 4.5% | ||
| Q2 24 | 2.0% | 6.7% | ||
| Q1 24 | -6.5% | 2.6% |
| Q4 25 | -10.1% | 10.5% | ||
| Q3 25 | -4.9% | -9.2% | ||
| Q2 25 | -2.2% | 2.4% | ||
| Q1 25 | -0.3% | 12.1% | ||
| Q4 24 | -6.6% | -2.4% | ||
| Q3 24 | -2.8% | -21.4% | ||
| Q2 24 | 2.1% | 4.3% | ||
| Q1 24 | -5.5% | -3.1% |
| Q4 25 | — | $0.16 | ||
| Q3 25 | — | $-0.13 | ||
| Q2 25 | — | $0.03 | ||
| Q1 25 | — | $0.16 | ||
| Q4 24 | — | $-0.04 | ||
| Q3 24 | — | $-0.28 | ||
| Q2 24 | — | $0.06 | ||
| Q1 24 | — | $-0.04 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $78.3M | $434.0M |
| Total DebtLower is stronger | — | $1.4B |
| Stockholders' EquityBook value | $308.7M | $1.6B |
| Total Assets | $541.0M | $4.9B |
| Debt / EquityLower = less leverage | — | 0.88× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $78.3M | $434.0M | ||
| Q3 25 | — | $427.0M | ||
| Q2 25 | — | $601.0M | ||
| Q1 25 | — | $552.0M | ||
| Q4 24 | $194.5M | $536.0M | ||
| Q3 24 | $288.0M | $524.0M | ||
| Q2 24 | $254.8M | $515.0M | ||
| Q1 24 | $208.3M | $475.0M |
| Q4 25 | — | $1.4B | ||
| Q3 25 | — | $1.4B | ||
| Q2 25 | — | $1.4B | ||
| Q1 25 | — | $1.4B | ||
| Q4 24 | — | $1.4B | ||
| Q3 24 | — | $1.4B | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $308.7M | $1.6B | ||
| Q3 25 | $340.9M | $1.5B | ||
| Q2 25 | $344.2M | $1.2B | ||
| Q1 25 | $336.1M | $1.1B | ||
| Q4 24 | $341.1M | $1.1B | ||
| Q3 24 | $342.2M | $1.1B | ||
| Q2 24 | $324.9M | $1.2B | ||
| Q1 24 | $292.5M | $1.2B |
| Q4 25 | $541.0M | $4.9B | ||
| Q3 25 | $559.7M | $4.8B | ||
| Q2 25 | $575.0M | $3.9B | ||
| Q1 25 | $583.7M | $3.8B | ||
| Q4 24 | $580.7M | $3.6B | ||
| Q3 24 | $653.0M | $3.8B | ||
| Q2 24 | $674.2M | $3.8B | ||
| Q1 24 | $671.8M | $3.8B |
| Q4 25 | — | 0.88× | ||
| Q3 25 | — | 0.91× | ||
| Q2 25 | — | 1.15× | ||
| Q1 25 | — | 1.23× | ||
| Q4 24 | — | 1.32× | ||
| Q3 24 | — | 1.26× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-66.9M | $52.0M |
| Free Cash FlowOCF − Capex | $-69.0M | $13.0M |
| FCF MarginFCF / Revenue | -14.1% | 1.6% |
| Capex IntensityCapex / Revenue | 0.4% | 4.9% |
| Cash ConversionOCF / Net Profit | — | 0.63× |
| TTM Free Cash FlowTrailing 4 quarters | $-69.2M | $104.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-66.9M | $52.0M | ||
| Q3 25 | $12.1M | $71.0M | ||
| Q2 25 | $5.4M | $57.0M | ||
| Q1 25 | $-16.3M | $53.0M | ||
| Q4 24 | $34.8M | $65.0M | ||
| Q3 24 | $50.0M | $85.0M | ||
| Q2 24 | $44.8M | $73.0M | ||
| Q1 24 | $25.9M | $49.0M |
| Q4 25 | $-69.0M | $13.0M | ||
| Q3 25 | $11.4M | $38.0M | ||
| Q2 25 | $4.8M | $27.0M | ||
| Q1 25 | $-16.5M | $26.0M | ||
| Q4 24 | $33.3M | $33.0M | ||
| Q3 24 | $49.6M | $59.0M | ||
| Q2 24 | $44.4M | $49.0M | ||
| Q1 24 | $25.5M | $24.0M |
| Q4 25 | -14.1% | 1.6% | ||
| Q3 25 | 2.3% | 5.6% | ||
| Q2 25 | 1.0% | 4.3% | ||
| Q1 25 | -3.6% | 4.2% | ||
| Q4 24 | 9.9% | 5.6% | ||
| Q3 24 | 15.0% | 9.9% | ||
| Q2 24 | 12.5% | 7.8% | ||
| Q1 24 | 7.3% | 3.9% |
| Q4 25 | 0.4% | 4.9% | ||
| Q3 25 | 0.1% | 4.9% | ||
| Q2 25 | 0.1% | 4.8% | ||
| Q1 25 | 0.0% | 4.3% | ||
| Q4 24 | 0.5% | 5.4% | ||
| Q3 24 | 0.1% | 4.4% | ||
| Q2 24 | 0.1% | 3.8% | ||
| Q1 24 | 0.1% | 4.1% |
| Q4 25 | — | 0.63× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 3.80× | ||
| Q1 25 | — | 0.71× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 6.04× | 2.70× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CLOV
Segment breakdown not available.
GBTG
| Travel | $620.0M | 78% |
| Other | $172.0M | 22% |
